Need help with 24x40 LED Matrix

FlyingWaffle:
After some measuring and extrapolating, I've concluded that the LED matrix I'm including in the helmet's faceplate will contain either a 24 by 40 LED matrix or a 24 by 32 LED matrix (that's 960 or 768 LEDs respectively).

From the way you were talking I thought you were going to do a BIG matrix. 24x32 is fairly modest around here.

FlyingWaffle:
I was thinking of using MAX7221 LED driver's for each grid of 8x8 LEDs.

Good idea.

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Due to my lack of experience I have no idea how to go about wiring or coding something like this; so any help, advice or criticisms would be greatly appreciated.

(I should probably add that I took an introductory programming course last year, and that my dad is a computer programmer so he should be able to help me if I get stuck with the coding part of the project. Also, I'm going to use single color, 5mm, red LEDs.)
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If I was you I'd buy prebuilt 8x8 modules and fit them together. It'll save a lot of work and end up far neater. 8x8 LED matrices don't really cost more than buying the individual LEDs.

eg. 8x8 red led matrix for sale | eBay

You can fix one MAX7221 to the back of each module then all you need is power and SPI bus from the Arduino to control them - just six wires.